Alphabet Stock Expected to Reach New All-Time High: Citizens Analyst Predicts 48.43% Surge

Andrew Boone, a Wall Street analyst at Citizens, believes Alphabet (NASDAQ: GOOGL) stock has significant upside potential. With the company's market capitalization already exceeding $4.2 trillion and its share price currently trading at $346.97, Boone expects another rally over the coming 12 months to reach a new all-time high.

The analyst reiterated his 'Outperform' rating for GOOGL stock and maintained a 12-month price target of $515, representing a potential 48.43% upside. He justified this prediction by pointing to Alphabet's projected earnings growth, noting that the target is based on roughly 32 times its estimated 2027 GAAP earnings per share (EPS).

Boone remains optimistic about Google's ability to sustain its leading margins due to robust consumer distribution across its core platforms and accelerating growth within Google Cloud Platform (GCP). He believes the market is currently undervaluing the company's future earnings ability, particularly as its Artificial Intelligence (AI)-driven cloud segment continues to gain momentum.